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Financial sector ‘dragging its heels’ with sustainability

24 May 2011 No Comment

The financial sector has been accused of “dragging its heels” when it comes to sustainability, according to Friend Feed. The industry’s supposed “short-termism” has been attributed to the delay in moving “towards a low-carbon future,” it has been claimed.

financial-sector-eco Image source

However key members of the financial sector have refuted the claims, arguing instead in The Guardian that the “lack of coherent policy framework” from the government has “stifled” the industry’s attempts to get moving on climate change.

One such person was Richard Saunders, the chief executive of the Investment Management Association (IMA). He said that politicians needed to support the sector in making changes, stating: “If we are under-investing in the products, technologies and services that we need to combat climate change, it’s because companies and investors can’t figure out how to make money by doing so.”

“The challenge is work out how to unleash the power of capitalism in the cause of combating climate change. It probably needs to involve some combination of regulation and incentives. That’s where the politicians come in.”

Operations more eco-friendly

In order to make their customers operations more eco-friendly, more financial institutions could consider investing in steel roofing and external cladding. These products can help make their businesses become more sustainable by providing improved insulation and air-tightness  which both have the effect or reducing the energy lost through the building envelope and so increasing energy efficiency.  They are also easily integrateable with renewable energy sources such as photovoltaics and transpired solar collectors..

These products could prove particularly pertinent as more experts have cited sustainability as a key factor for investors; so if financial companies were to make an internal investment, they may see more external investments come in.

 

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